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Samsung Electro-Mechanics Posts 17% Growth in 4Q2020 Sales
January 29, 2021 | Samsung Electro-MechanicsEstimated reading time: Less than a minute
Samsung Electro-Mechanics has reported sales of KRW 2.0864 trillion ($1.87 billion at $1:KRW1,115.97) for the fourth quarter of 2020, up by 17% compared to the same quarter of the previous year. Operating income for the period reached KRW 252.7 billion ($226.4 million), an increase of 73% compared to the same period in 2019.
The company attributes the earnings improvement to the revenue growth from its MLCC, package circuit board, and OLED rigid-flex PCB (RFPCB) segments due to the growth in the 5G telecommunications market.
For the full year 2020, Samsung Electro-Mechanics recorded total sales of KRW 8.2087 trillion ($7.36 billion) and operating income of KRW 829.1 billion ($742.99 million), up by 6% and 12%, respectively, compared to the previous year.
The company's Circuit Boards Business recorded revenues of KRW 557.9 billion ($499.96 million) in the fourth quarter, up by 23% on a quarter-on-quarter basis. Performance improved with the growth in demand for mobile APs, package circuit boards, and OLED RFPCBs.
This year, the company plans to improve profitability of its Circuit Boards business by expanding its supply of package circuit boards, including 5G, automotive, and thin-plate CPU circuit boards, amid increasing demand driven by the expected improvement in the semiconductor market.
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